Besides shopping for beer, ice cream and newspapers, 7-Eleven customers may now also do their banking in selected outlets of the ubiquitous retail chain.
Citibank has installed automated teller machines in four 7-Eleven shops, in Wan Chai, Tsuen Wan, Kwai Chung and Tsim Sha Tsui, and is planning more.
In contrast to overseas markets where banks are moving traditional branch and ATM services to the internet, Hong Kong lenders are sticking to tradition by expanding their branch and ATM networks.
'We believe the branch network and ATMs are important to retail banking because they can add to clients' confidence and trust in a bank,' said Simon Chow Wing-charn, a deputy country business manager of Citibank's global consumer group.
'We aim to expand our ATM network by more than double to 250 in the next one or two years. Installing some of these in 7-Elevens is a quick way to expand the network in convenient locations and to provide a round-the-clock service to clients.'
Chow said the bank was reviewing the locations of the more than 900 7-Eleven shops in Hong Kong and would pick the most convenient ones for the cash dispensers. They would be able to provide Hong Kong dollars and yuan as well do other transfers.
Installing ATMs in 7-Elevens is part of Citibank's retail expansion designed to attract more affluent clients who have between HK$100,000 and HK$1 million in liquid assets.